The European Cybercrime Centre (EC3) at Europol has signed a memorandum of understanding (MoU) with the European ATM Security Team (EAST) to fight the threats of payment crime.
The MoU will expand partnership between EAST and Europol in combating all types of payment crime, including card-not-present fraud, card present fraud, hi-technology crime, as well as ATM malware and physical attacks.
In addition, the agreement will enable both the companies to exchange strategic data and other nonoperational information.
The MoU was signed during the 36th EAST Meeting of National Members at Europol’s headquarters in Hague.
Additionally, Europol has prepared guidelines about the threat presented by ATM logical and malware attacks. The document will be restricted to Law Enforcement and the payment/banking industry and its production will be coordinated by the EAST Expert Group on ATM Fraud (EGAF).
According to EAST statistics, 51 malware attacks were reported last year with significant related losses.
Europol’s deputy director of operations Wil van Gemert said: "Europol’s EC3 is pleased to further increase the cooperation with EAST, creating further capacity to combat the threats of payment crime."
EAST executive director Lachlan Gunn said: "The signing of this agreement further strengthens this relationship. Over the past 11 years ATM related payment card fraud has been the major fraud issue faced by many of our National Members, but logical and malware attacks are now recognised as an increasing threat.
"Our National Members represent 31 countries, with a total of 655,398 ATMs, and our working relationship with the European Cybercrime Centre is of great strategic importance to both the public and private sector."